Wells Fargo Energetic Money bank card evaluate: Full particulars

The no-annual-fee Wells Fargo Active Cash® Card (see rates and fees) offers a solid 2% cash-back on purchases and an appealing welcome offer. And with no annual fee and a handful of other perks, it could be a good option for those who want a rewarding yet simple card in their wallets. Card Rating*: ⭐⭐⭐½

*Card Rating is based on the opinion of TPG’s editors and is not influenced by the card issuer.

Credit card rewards can often be complicated with limited-time offers, transfer partners and high annual fees. The Wells Fargo Active Cash card takes a simple approach by offering unlimited 2% cash rewards on purchases. It doesn’t carry an annual fee or have any bonus categories to remember.

It’s also a Visa Signature® card, which has many perks and benefits often seen on more premium cards. You’ll want a credit score of 670 or higher for the best chance at approval.

Here’s everything you need to know about the Wells Fargo Active Cash card.

The Wells Fargo Active Cash card is currently offering a $200 cash rewards bonus when you spend $500 in purchases in the first three months of account opening.

This doesn’t hold a candle to the value you’ll get with one of the top travel rewards cards on the market, but it’s pretty standard for a cash-back card with no annual fee.

Some of the more notable perks on the Active Cash include cellphone protection and zero liability protection. When you pay your monthly phone bill with the Active Cash card, Wells Fargo will cover up to $600, subject to a $25 deductible (up to twice per year) for damage or theft.

Meanwhile, with zero liability protection, if an unauthorized purchase is made on your credit card, the activity will be promptly reported, and you will not be held responsible.

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The Wells Fargo Active Cash is also a Visa Signature® card and comes equipped with benefits such as 24/7 concierge service and access to Visa’s Luxury Hotel Collection.

These are some solid benefits for a card with no annual fee.

The Wells Fargo Active Cash card is a great way to earn a standard rate of return on purchases. With it, you’ll earn 2% in the form of cash rewards on purchases — including travel, rideshare services, dining and more. Cash rewards will not expire as long as the account remains open.

There are no bonus categories, so all qualifying purchases will earn the same cash-back rewards. However, cardholders do not earn cash rewards on balance transfers, cash equivalents (like gift cards and money orders), lottery tickets or casino chips.

The cash rewards you earn with the Active Cash card can be redeemed as statement credits to cover purchases starting at $1. However, you must have enough rewards in your account to cover the entire transaction. In other words, the $200 in rewards you earn as part of the welcome offer can’t be used for a statement credit on a $300 purchase.

Cash rewards can also be redeemed for a deposit to your Wells Fargo checking account or as a payment toward the principal on a Wells Fargo mortgage. Other redemption options include cash from a Wells Fargo ATM in $20 increments (only available with a Wells Fargo debit card) and gift cards in $25 increments.

While this card doesn’t offer as many redemption options as some of our favorite travel rewards cards, the simplicity has its own appeal. TPG credit cards writer Emily Thompson loves the versatility of cash-back rewards to cover anything from travel expenses to an unexpected home repair.

The cash rewards credit card world is filled with no-annual-fee cards, but only a few can compare to the Active Cash.

For additional options, check out our full list of the best cash-back credit cards.

Related: Flat-rate vs. bonus-category cash-back credit cards

The lack of an annual fee makes the Wells Fargo Active Cash card appealing to all types of credit card users, but it’s a particularly good option for beginners. However, the card does have a 3% foreign currency conversion fee, so cardholders who regularly travel or spend internationally should reconsider and opt for a card without foreign transaction fees.

The Wells Fargo Active Cash card is a great cash-back rewards card for people looking for a simple rewards structure. Some more experienced credit card users may feel it is missing the ability to maximize earning potential. However, if you’re in the market for a no-frills cash rewards card with no annual fee, the Wells Fargo Active Cash card could be the perfect addition to your wallet.

Apply here: Wells Fargo Active Cash Card